Our Falling CND dollar - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Octaneman · 01-22-2014, 07:33 AM

Our dollar has fallen steadily over the last couple of months and some predict will fall several more cents. My wife is also a senior economist and agrees with the majority of economist on this subject

Currently our CND dollar is around 10 cents below parity on the foreign exchange, add the bank charges of another 2 percent and credit card companies add typically another 2.5 percent, that makes it around 15% on your credit card to buy US good.

How is this effecting peoples decisions for upcoming purchases?

Let's get your opinions

ripcard · 01-22-2014, 09:07 AM

Seeing it go from around 0.98 to 0.95 with the doom and gloom reports starting early last December, I moved up my planned purchases. Took advantage of a Black Friday deal for my Tri-Y headers and picked up a GM Performance 1LE diff. assy and a Pfadt Rear Trailing Arm and Tie Rod Package new/unused from a couple of C5 members.

Hoping the exchange doesn't go too low by the time we head to Texas in late April.

fshog · 01-22-2014, 10:00 AM

Most likely to hit mid to low 80's in the next couple of months. Brings back memories of the early 2000's and the 65 cent dollar.....by 2007 it was $1.08 U.S..

I wouldn't panic and buy a pile of inventory (if U.S. purchased) just yet, but I do not see the dollar climbing above par for a loooooong time.

Trackman · 01-22-2014, 01:32 PM

Having a U.S. credit card is smart to have to save on the exchange.
Change banks if they charge you 2%

The days of good deals are about over.

Octaneman · 01-22-2014, 02:12 PM

Quote:

Originally Posted by Trackman

Having a U.S. credit card is smart to have to save on the exchange.
Change banks if they charge you 2%

The days of good deals are about over.

All banks charge a rate over the world market price, unless you go to a foreign exchange house and buy huge sums, they will typically charge half a cent over, but banks, that I check are typically 2 points over...Nevertheless, its getting more painful by the day. Our Dollar has lost more ground today

As far as having a U.S. visa that is a good thing if you purchase a lot from the U.S. as we do, but its still painful

77rs · 01-22-2014, 07:28 PM

What is the normal bank interest rates on savings or checking accts in Canada? Here its .05 or .10% a year. Twenty years ago it was 5 %! CD's were 11,12 or 13%a year! BNow maybe 1%.

NFRNOSS · 01-22-2014, 08:13 PM

I think its around 0.25%...basically nothing.

Motion427 · 01-22-2014, 08:15 PM

Quote:

Originally Posted by Octaneman

All banks charge a rate over the world market price, unless you go to a foreign exchange house and buy huge sums, they will typically charge half a cent over, but banks, that I check are typically 2 points over...Nevertheless, its getting more painful by the day. Our Dollar has lost more ground today

As far as having a U.S. visa that is a good thing if you purchase a lot from the U.S. as we do, but its still painful

Painfull for us for adjusting the price all the time and most customers are unaware of the falling dollar.

*DGthe3* · 01-23-2014, 10:30 AM

Its more like a rising US dollar than a falling Canadian dollar. Their economy is getting stronger faster than ours is, thus their dollar goes up relative to ours.

Anyways, it needs to get to about $0.80 or so & hopefully the Americans will buy even more of our stuff. Whether its lumber from BC, oil from Alberta, or cars from Ontario, the net result is more jobs & more cash flow within our economy.

Octaneman · 01-23-2014, 11:11 AM

Quote:

Originally Posted by DGthe3

Its more like a rising US dollar than a falling Canadian dollar. Their economy is getting stronger faster than ours is, thus their dollar goes up relative to ours.

Anyways, it needs to get to about $0.80 or so & hopefully the Americans will buy even more of our stuff. Whether its lumber from BC, oil from Alberta, or cars from Ontario, the net result is more jobs & more cash flow within our economy.

True enough, as one rises, the other one falls, and it continues today. There are benefits each way, but as it falls, our exports will start to grow and benefit our economy. On the other hand, those of us buying U.S. goods will have to contend with the current situation.

Steve

NFRNOSS · 01-23-2014, 05:59 PM

Why couldn't it wait until after my Disney world vacation! Damn it.

fshog · 01-23-2014, 07:01 PM

Quote:

Originally Posted by Octaneman

True enough, as one rises, the other one falls, and it continues today. There are benefits each way, but as it falls, our exports will start to grow and benefit our economy. On the other hand, those of us buying U.S. goods will have to contend with the current situation.

Steve

How bad does this make a Cam package now for an SS auto Steve? I'd have to dig the quote out I got from you last year but I think I have an idea...
Good part is I have my headers in and tune, but retune required once a new cam goes in......

77rs · 01-23-2014, 07:29 PM

China controls the U.S,. economy. Not us.

BUMBLEBEE_SS · 01-24-2014, 08:48 PM

really? havent looked in a while. Started my AGP TT purchase last nov at .96 to the dollar... $8000 bill and a difference of 15 cents per dollar gets expensive quick...

no rush here i guess.

01-22-2014, 07:33 AM	#1
Octaneman Drives: Camaro ZL1 Join Date: Aug 2009 Location: Calgary,AB Posts: 226	Our Falling CND dollar Our dollar has fallen steadily over the last couple of months and some predict will fall several more cents. My wife is also a senior economist and agrees with the majority of economist on this subject Currently our CND dollar is around 10 cents below parity on the foreign exchange, add the bank charges of another 2 percent and credit card companies add typically another 2.5 percent, that makes it around 15% on your credit card to buy US good. How is this effecting peoples decisions for upcoming purchases? Let's get your opinions

01-22-2014, 09:07 AM	#2
ripcard INJACC Drives: 2010 Camaro 2SS/RS CGM/IO 6M Join Date: Aug 2009 Location: Burritts Rapids, ON Canada Posts: 770	Seeing it go from around 0.98 to 0.95 with the doom and gloom reports starting early last December, I moved up my planned purchases. Took advantage of a Black Friday deal for my Tri-Y headers and picked up a GM Performance 1LE diff. assy and a Pfadt Rear Trailing Arm and Tie Rod Package new/unused from a couple of C5 members. Hoping the exchange doesn't go too low by the time we head to Texas in late April. __________________ Pedders Xa Coilovers & Sways w/Fe4, Pfadt Rear Trailing Arms & Tie Rods, Forgestar CF5s, ZL1 Brakes, 1LE 3.91 Diff, Pedders Cradle Bushings, MGW STS, BTR Stage II Cam, Fluidampr U/D Pulley, Performance Redline Dyno Tune, CAI & Apex Scoop, Pfadt Tri-Y Headers w/HF Cats, Magnaflow 3" Cat Back, RX Catch Can, VMax TB, Billet Tunnel Brace, SRP Pedals, Skip Shift, Seibon CF Hood & ST Trunk, 1LE Splitter, ZL1 Rockers & Diffuser, Heritage Grill, F & R Sparks "SS" badges, Billet Door Handles, Tint, Technostalgia Tail Lights, AAC Side Markers, BlackVue dash cam and my favourite accessory...Litho #163.

01-22-2014, 08:13 PM	#7
NFRNOSS Drives: 2010 Camaro 2SS/RS LS3 IOM Join Date: Aug 2012 Location: Calgary, Alberta, Canada Posts: 1,523 View My Garage	I think its around 0.25%...basically nothing. __________________ Twitter: @trevor_yyc \| Instagram: @trevor_yyc

01-23-2014, 10:30 AM	#9
DGthe3 Moderator.ca Drives: 05 Grand Am GT Join Date: Jul 2007 Location: Niagara, Canada Posts: 25,372	Its more like a rising US dollar than a falling Canadian dollar. Their economy is getting stronger faster than ours is, thus their dollar goes up relative to ours. Anyways, it needs to get to about $0.80 or so & hopefully the Americans will buy even more of our stuff. Whether its lumber from BC, oil from Alberta, or cars from Ontario, the net result is more jobs & more cash flow within our economy. __________________ Note, if I've gotten any facts wrong in the above, just ignore any points I made with them __________________ Originally Posted by FbodFather My sister's dentist's brother's cousin's housekeeper's dog-breeder's nephew sells coffee filters to the company that provides coffee to General Motors...... ........and HE WOULD KNOW!!!! __________________ Camaro Fest sub-forum

01-23-2014, 05:59 PM	#11
NFRNOSS Drives: 2010 Camaro 2SS/RS LS3 IOM Join Date: Aug 2012 Location: Calgary, Alberta, Canada Posts: 1,523 View My Garage	Why couldn't it wait until after my Disney world vacation! Damn it. __________________ Twitter: @trevor_yyc \| Instagram: @trevor_yyc

01-22-2014, 10:00 AM	#3
fshog Drives: 2011 RS/2SS Join Date: Jun 2011 Location: Okotoks, Alberta Posts: 381	Most likely to hit mid to low 80's in the next couple of months. Brings back memories of the early 2000's and the 65 cent dollar.....by 2007 it was $1.08 U.S.. I wouldn't panic and buy a pile of inventory (if U.S. purchased) just yet, but I do not see the dollar climbing above par for a loooooong time.

01-22-2014, 01:32 PM	#4
Trackman Drives: 67RS Camaro ,Black 2013 ZL1 Join Date: Jun 2010 Location: Alberta Posts: 1,408	Having a U.S. credit card is smart to have to save on the exchange. Change banks if they charge you 2% The days of good deals are about over.

01-22-2014, 07:28 PM	#6
77rs Drives: '13 SS/RS conv. RY Join Date: Jul 2012 Location: Cape May County, N.J. Posts: 521	What is the normal bank interest rates on savings or checking accts in Canada? Here its .05 or .10% a year. Twenty years ago it was 5 %! CD's were 11,12 or 13%a year! BNow maybe 1%.

01-23-2014, 07:29 PM	#13
77rs Drives: '13 SS/RS conv. RY Join Date: Jul 2012 Location: Cape May County, N.J. Posts: 521	China controls the U.S,. economy. Not us.

01-24-2014, 08:48 PM	#14
BUMBLEBEE_SS Drives: 2010 SS LS3 S200 56/61 AGP TT Join Date: Jan 2009 Location: Sherwood Park Alberta Posts: 479	really? havent looked in a while. Started my AGP TT purchase last nov at .96 to the dollar... $8000 bill and a difference of 15 cents per dollar gets expensive quick... no rush here i guess.